So, Anonymous, under the guise of its AntiSec campaign, has hacked an Apple server, got access to 27 administrator usernames and passwords, and put them on Pastebin. Is it time to panic? Is it time to point and laugh at Apple? Is it time to stop using iTunes? Not really - this is a small hack that will cause little to no damage.

"Actually, no. A sufficiently long salt (say at least 48 bits) makes pre-computed attacks unfeasible.
Of course, combining salting with key-stretching (as in bcrypt) makes it even more unfeasible."

This is not strictly true. You seem to be assuming that the salt is secret, however in a scenario where an attacker gets in through a web application vulnerability, the attacker will have access to the salt and will be able to build the reverse hash indexes based on it.

Consider the practical differences to the attacker who's building a reverse index.